secwatch.observer — SEC 8-K summary
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Issuer:     iRhythm Holdings, Inc. (IRTC)
CIK:        0001388658
Form:       8-K
Filed at:   2024-03-05T23:59:59+00:00
Accession:  0001193125-24-058503
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

iRhythm prices $575M convertible notes at 1.50%, upsized from $450M
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- $575M aggregate principal amount of 1.50% Convertible Senior Notes due 2029; upsized from $450M.
- Initial conversion price ~$147.22/share, 35% premium over March 4 close of $109.05.
- Net proceeds ~$559.5M; uses: repay $80.2M Braidwell debt, $63M capped calls, $25M share repurchase (229,252 shares).
- Capped call transactions cap at $218.10/share to reduce potential dilution upon conversion.
- Closing expected March 7, 2024; initial purchasers have 13-day option for additional $86.25M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1388658/000119312524058503/0001193125-24-058503-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1388658/000119312524058503/d807186d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-058503

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer